Primo Water Corp. (PRMW) Shares Up 3.9%
Shares of Primo Water Corp. (NASDAQ:PRMW) shot up 3.9% on Friday . The company traded as high as $11.89 and last traded at $11.81, with a volume of 90,543 shares traded. The stock had previously closed at $11.37.
A number of brokerages have recently commented on PRMW. B. Riley reaffirmed a “buy” rating and set a $13.00 target price on shares of Primo Water Corp. in a research report on Monday, May 9th. TheStreet raised shares of Primo Water Corp. from a “sell” rating to a “buy” rating in a research report on Friday, April 8th. Barrington Research raised their target price on shares of Primo Water Corp. from $10.00 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 4th. Zacks Investment Research raised shares of Primo Water Corp. from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Friday, July 8th. Finally, Bank of America Corp. reaffirmed a “neutral” rating on shares of Primo Water Corp. in a research report on Tuesday, April 5th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.25.
The firm has a market cap of $307.28 million and a PE ratio of 100.51. The stock’s 50-day moving average price is $11.17 and its 200-day moving average price is $10.22.
Primo Water Corp. (NASDAQ:PRMW) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $33 million for the quarter, compared to analyst estimates of $30.85 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The business’s revenue was up 13.0% compared to the same quarter last year. Analysts predict that Primo Water Corp. will post $0.24 EPS for the current year.
In related news, insider Camden Partners Strategic Fund sold 27,929 shares of the business’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $10.46, for a total transaction of $292,137.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
An institutional investor recently raised its position in Primo Water Corp. stock. Dimensional Fund Advisors LP raised its position in Primo Water Corp. (NASDAQ:PRMW) by 490.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,811 shares of the company’s stock after buying an additional 126,093 shares during the period. Dimensional Fund Advisors LP owned about 0.59% of Primo Water Corp. worth $1,214,000 as of its most recent SEC filing.
Primo Water Corporation is a provider of multi-gallon purified bottled water, self-service refill water and water dispensers. The Company’s products are sold through various retailers in the United States and Canada. The Company conducts its operations through two segments: Primo Water (Water) and Primo Dispensers (Dispensers).
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